RXK Capital Review – Beware Of This Foul Offshore Hoax
Welcome to the RXK Capital Review. In this quick analysis, you’ll learn why this offshore provider is extremely risky and dangerous. Everything from its trading platform to conditions and payments is dubious. Without further ado, let’s expose this fraudster once and for all.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||BaFin|
|Owned by:||RXK Management Ltd|
|Minimum Deposit:||250 USD|
|Cryptocurrencies:||Yes – BTC, ETH, XPR…|
|Types of Assets:||Forex, Crypto, Commodities, Stocks, Indices|
|Free Demo Account:||Unavailable|
|Accepts US clients:||No|
RXK Capital Is a Fraudulent Broker Without a License?
We’ll start off by saying that RXK Capital is unlicensed. There is ample evidence for this presupposition. The most obvious is the fact that the broker is operated by RXK Management Ltd, based in Saint Vincent and the Grenadines (SVG).
This little island in the Caribbean Sea is notorious for being home to a lot of vile scams and frauds. They love SVG due to its favorable tax system and lax rules.
Plus, the local Financial Services Authority does not regulate the Forex market. Therefore, RXK Capital cannot possibly possess a valid license.
RXK Capital is an illicit offshore investment scam that claims to offer Forex, CFD and crypto trading. The broker intends to defraud unsuspecting traders from Germany, Sweden and the United Kingdom.
Why Is It Safer To Choose Regulated Brokers?
Needless to say, without a license, RXK Capital surely doesn’t provide enough security to its clients. By that, we mean segregated funds, negative balance protection, leverage restriction, and indemnification.
Also, we don’t know whether the broker has a considerable operating capital (i. g. a minimum of 730,000 EUR in the EU). That’s not a provider you want. Instead, opt for those that are regulated by the likes of the FCA, CySEC, ASIC, etc.
A Warning Issued by BaFin
An SVG-based offshore broker is shady enough, but coupled with the fact there’s a warning issued against RXK Capital, it makes matters far worse. Yup, the stern German financial market watchdog, BaFin, has warned traders about this con artist.
This text ought to deter you from trusting such a foul provider. We honestly hope it reaches other traders as well.
RXK Capital Software – How Safe Is Trading Platform?
RXK Capital advertises an “award-winning platform” suitable for beginners and adapted for multiple devices such as the PC, Mac & mobile. However, the fraudster is simply selling snake oil.
The platform in question is WebTrader, a rudimental and oversimplified browser-based platform. As such, it lacks advanced tools like algorithmic trading and API integration that made Meta Trader 4 and 5 great.
Since the platform is available only online, it can be accessed via a mobile phone as well. While it may be good for trading on the go, we don’t recommend it.
Plus, it may be rigged to show fake trading parameters. The profits are fake, but the broker does take your deposits with pleasure.
Traders’ Reviews of RXK Capital
At the time of this writing, there were 47 reviews on Trustpilot. Mostly positive but even the website warned us about fake reviews. One trader made an alarming statement and RXK Capital launched a counteroffensive.
This is a scam. Be aware! They will lose your money and then refuse to speak to you. They will say they’ll contact you but they never will. They tell you your trades are in “rollover” but 3 months later they still refuse to tell you what’s going on. You absolutely are pressured to enlarge your investment.– Trustpilot user, November 16, 2022.
The financial swindler denied this claim and got all defensive. Disregard the scammer’s fake courtesy, the poor trader is right about RXK Capital.
RXK Capital Range Investment Opportunities – Trading Instruments
Here’s an overview of RXK Capital’s trading instruments:
- Forex currency pairs – EUR/USD, AUD/NZD, CAD/GBP…
- Indices – NIKKEI225, GERMANY30, US100…
- Commodities – gold, silver, coffee, brent oil…
- Stocks – Apple, Bayer, Samsung…
- Crypto assets – BTC, ETH, LTC, XPR…
RXK Capital Fraud Risk Zones – Service Countries
It’s important to note where this scammer implements its malevolent scheme. Traders from three countries are the main targets:
- The United Kingdom;
Fortunately, Germany’s BaFin launched an investigation of RXK Capital’s business. If you have relevant and useful info on this scam, please let us know.
RXK Capital Accounts Overview
Here’s the list of available account types at RXK Capital:
- Standard Trading Account – 10,000 EUR;
- Advanced – 25,000 EUR;
- Platinum – 100,000 EUR;
- Expert – 250,000 EUR;
- VIP – 500,000 EUR.
As you can see, the weakest account costs 10,000 EUR, but the broker says in the FAQ section that the minimum deposit is 250 $.
As for the leverage, it ranges from 1:20 to 1:150, well above the legal limit of 1:30 set by top regulators. Only offshore con artists do this.
Spreads start from 0.2 pips. That’s awesome but not certain given RXK Capital’s illicit status. Commissions go all the way up to 10%, which is really unfavorable.
Access to a Free Demo Account
Nope. There’s no demo account here. Unsurprisingly, all we found was a promo code option. The scammer finds a suitable trader to defraud, sends him/her the code, steals the money and vanishes. That’s the whole scam in a nutshell, basically.
Bonus Conditions Provided by the Broker
Each account type comes with a hefty bonus – 2,500-250,000 EUR. Of course, it’s not without strings attached. Namely, there’s a shady clause that requires you to trade up to an insane volume to be able to withdraw.
By trusting this broker, you agreed to this. So much for transparency. Bonuses are banned by all reputable European regulators.
RXK Capital Terms and Conditions
In the T&C section, we found some info on the payment methods. RXK Capital mentioned credit/debit cards and wire transfers as well as a 5% withdrawal fee. Allegedly, withdrawals take up to three business days and five more days to appear in clients’ accounts.
As the poor victim mentioned in the Trustpilot complaint, RXK Capital locks in the deposits and refuses to allow any withdrawals.
RXK Capital Broker Scammed You? – Please Tell Us Your Story
Falling victim to this awful scam is unfortunate. However, we can help you in getting a refund and report RXK Capital to raise the awareness of more regulators about this hoax.
As for the refund methods, they depend on the way you deposited funds. You can request either a chargeback or a recall. We can help you with the whole process. Just give us a call!
What Is the Chargeback Procedure?
- Credit/debit card transactions can be reversed via chargeback.
- You can request a chargeback at the issuing bank within 540 days.
- Wire transfers can be reversed via recall.
- If the transaction is complete, the recall cannot be performed.
Contact us today and start your chargeback process.
What Is RXK Capital?
RXK Capital is an outrageous offshore investment scam that includes Forex, CFD and crypto trading.
Is RXK Capital a Scam Broker?
Yes. There’s even a warning issued against the shady broker by Germany’s BaFin.
Is RXK Capital Available in the United States or the UK?
The broker is available in the United Kingdom but not in the United States.
Does RXK Capital Offer a Demo Account?
No. There’s only a live account. But we did find a promo code option, which is really suspicious.